The Indian job market continues to show positive hiring sentiments as the Naukri JobSpeak Index stood at 2878 which only second to the peak in February’22 when it crossed 3000. Since the start of this year, the country’s hiring activity has shown an upward growth trajectory. The latest Naukri JobSpeak Index observed a +22% y-o-y growth in June’22 v/s June’21.
Entry-level professionals in high demand
Freshers rejoice as the demand for entry-level talent continues to record the highest yearly growth (+30%) in June’22. Additionally, growing hiring sentiment was observed for other experience brackets such as 4–7 years (+19%), 8–12 years (+17%), 13–16 years (+21%), and over 16 years (+17%) in June’22 v/s June’21.
Hiring for entry-level professionals surged specifically in Mumbai (+93%) amongst metros apart from Kochi (+105%) amongst tier-2 cities. Interestingly, this growth in hiring for Freshers was led by various sectors including Travel & Hospitality (+158%), Retail (+109%), Insurance (+101%), Accounting Finance (+95%), BFSI (+88%), and Education (+70%).
Hiring activity maintains its momentum in key sectors
Amongst industries, travel and hospitality continues to show maximum surge in hiring activity in June’22 v/s June’21 at +125%. Following a similar trend, Retail (+75%) and BFSI (+58%) showed growth in hiring when compared with June’21, while reflecting a stable MOM trend.
Other key sectors that saw an uptick in YOY trends are Insurance (+48%), Education (+47%), Real Estate (+46%), Auto (+37%), and Oil & Gas (+36%) while Telecom and Pharma/Biotech remained flat.
Double-digit growth spread across most key centers
The demand in metros and non-metros continued to show an optimistic upward trend. Amongst metros, Mumbai continues to lead the race in three consecutive months at +43% y-o-y growth. Other metros such as Kolkata (+29%), Delhi (+29%), Chennai (+21%), Bangalore (+17%), Pune (+15%), and Hyderabad (+11%) continue to show positive growth in June’22 vs last year.
Amongst the non-metros, Coimbatore showed the maximum y-o-y growth at +60% in June’22. Other tier-II cities also witnessed a surge as Kochi (+51%) and Jaipur (+19%). The only centers that remained flat are Ahmedabad and Chandigarh.
Commenting on the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “With the Indian economy growing at a steady pace, the job market is also seeing a consistent uptick in hiring activity across key sectors and cities. This upward trend is a positive indication as a significant proportion of new job opportunities are being created for professionals across sectors and experience bands.”
The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on Naukri.com website month on month and year on year. The objective of Naukri JobSpeak is to measure the hiring activity in various industries, cities, and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered. July 2008 is taken as the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008. The report shows hiring trends across industry sectors, geography, and experience level. More than 76,000 clients use Naukri.com, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring or campus placement. Data on functional area hiring has been retired due to changes in the nomenclature. Over a long period of time, Naukri JobSpeak could be impacted by factors like internet penetration, Naukri market share, Naukri pricing and job listing drives.